Commodity Online
AHMEDABAD: In a boom for gold traders, there is good news that online trading of Indian gold delivery bars will begin from June-end.

According to reports, only imported gold bars (certified by the London Bullion Exchange Market Association) are being traded at present.

Indian Bullion Market Association (IBMA) technical panel has approved the terms and conditions for Indian gold delivery bar, and by June end the online trading is expected to start.

A transparent physical market of Indian gold bar would come into existence with regard to its price, quality and weight.

According to the conditions set by the technical committee, a refiner should have the minimum capacity of recycling 5 tonnes (per annum) for gold and 20 tonnes for silver. Its initial net worth should be at least Rs 1 crore.

The recycled gold of licensed refiners can be traded on the National Spot Exchange from 10 am to 11.30 pm. A registered trader can buy gold in demat or physical form from the exchange. Initially, gold would be traded in the denominations of 8 gm, 10 gm and 100 gm.

Since a major portion of the imported gold is of the size of 100 gm and 1 kg, one has to pay a premium on smaller size bar. Following availability of authentic and certified local bar, this price disparity would be removed.


At present, the physical trading of gold is in an unorganised form. There is price disparity between the domestic and international rates. One reason for that is the ban on export of gold. Moreover, because different states have different tax structures, a national market could not emerge.